Oil prices were higher on Friday, posting their largest weekly gain since July after U.S. President Donald Trump's comments about possible military action in Syria and reports of dwindling global oil stocks.
U.S. West Texas Intermediate crude for May delivery ended Friday's session up 32 cents to $67.39 its best weekly performance since July. The contract earlier touched its highest intraday level since Dec. 4, 2014.
Brent crude was up 58 cents at $72.60 a barrel by 2:26 p.m. ET and also set for a weekly gain of more than 8 percent going back to July.
sought to lock in long crude positions — or bets that prices will continue to rise — ahead of the weekend, said John Kilduff, Partner at hedge fund Again Capital Management.
"The geopolitical jitters just keep getting priced in here more and more, as we get closer to the moment of the strikes, if there are any," Kilduff said, noting Syria posed a risk to global stability because of its relationship with other powerful oil producers.